Robertson Stephens Wealth Management LLC Has $1.57 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Robertson Stephens Wealth Management LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 350.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,111 shares of the cryptocurrency exchange's stock after acquiring an additional 7,090 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Coinbase Global were worth $1,569,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Coinbase Global by 4.3% in the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock worth $239,000 after buying an additional 40 shares during the period. IPG Investment Advisors LLC boosted its position in Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock worth $561,000 after acquiring an additional 45 shares during the period. Vivaldi Capital Management LP grew its stake in Coinbase Global by 0.3% during the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after acquiring an additional 47 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in shares of Coinbase Global by 1.2% in the 4th quarter. Transcend Capital Advisors LLC now owns 4,668 shares of the cryptocurrency exchange's stock valued at $1,159,000 after purchasing an additional 54 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of Coinbase Global by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after purchasing an additional 55 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 1,952 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total value of $488,000.00. Following the completion of the transaction, the insider now owns 81,773 shares in the company, valued at approximately $20,443,250. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 1,741 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $247.50, for a total value of $430,897.50. Following the completion of the transaction, the chief financial officer now directly owns 10,450 shares in the company, valued at $2,586,375. The trade was a 14.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,538 shares of company stock valued at $51,299,116. 17.65% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup reaffirmed a "neutral" rating on shares of Coinbase Global in a research report on Thursday, May 8th. Oppenheimer set a $293.00 price target on shares of Coinbase Global in a report on Thursday, May 15th. Mizuho cut their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Jefferies Financial Group reissued a "hold" rating and set a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of "Moderate Buy" and an average price target of $271.88.

Coinbase Global Stock Performance

Coinbase Global stock traded up $41.44 during trading hours on Thursday, hitting $295.29. The stock had a trading volume of 37,251,901 shares, compared to its average volume of 10,255,252. The company has a 50-day moving average of $229.78 and a two-hundred day moving average of $241.06. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a market cap of $74.97 billion, a PE ratio of 55.30, a price-to-earnings-growth ratio of 21.52 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the firm earned $2.53 EPS. Coinbase Global's quarterly revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.